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Corporate Finance Exam 2

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by: Adele Wheeler

Corporate Finance Exam 2 3154

Adele Wheeler
Virginia Tech
GPA 3.987

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notes for the second exam
Corporate Finance
Professor Lel
Class Notes
Corporate, finance, lel
25 ?




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"I was sick all last week and these notes were exactly what I needed to get caught up. Cheers!"

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This 7 page Class Notes was uploaded by Adele Wheeler on Sunday March 20, 2016. The Class Notes belongs to 3154 at Virginia Polytechnic Institute and State University taught by Professor Lel in Spring 2016. Since its upload, it has received 50 views. For similar materials see Corporate Finance in Finance at Virginia Polytechnic Institute and State University.


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Date Created: 03/20/16
Ethical decision making framework Step 1: identify issues Step 2: gather information and identify stakeholders Step 3: brainstorm and identify alternatives Step 4: choose a course of actions Decision-making Problem recognition  information search  evaluation of alternatives  purchase decision  post-purchase analysis Key performing indicator Targeting strategies Undifferentiated marketing occurs when a company decides to ignore different segments and aims at the whole mass market at the same time. Nescafe, for example, make no distinction between genders, nationality, occupation, age or income when they advertise. Nestles advertising and promotion is designed to appeal the largest possible number of buyers. Undifferentiated marketing usually means lower promotion costs. However, mass market segments usually attract more competitors. The current trend is for companies to target more selectively. Differentiated marketing occurs when companies select different segments and design different products and/or different marketing strategies for each. Toyota is an example. Concentrated marketing (niche) occurs when a company targets small market segments but aims to win a high share. Big and Tall, for example, sells clothes for tall and portly men only. Can you think of any other examples? Differentiated = Coca Cola Concentrated = Helena Rubenstein or Clinique Microtargeting = Financial Services Providers Bounce rate - the percentage of times a visitor leaves the site almost immediately. Retailers Marketing research process Step 1: Defining objectives and research needs Step 2: designing the research Step 3: data collection process Step 4: analyzing data and developing insights Step 5: action plan and implementation Types of need -physiological (food) -psychological (retail therapy) -social (new clothes) -functional (blanket) RFP - a solicitation, often made through a bidding process, by an agency or company interested in procurement of a commodity, service or valuable asset, to potential suppliers to submit business proposals. Sustainable competitive advantage = brand loyalty Customer value comes from: 1. Customer excellence 2. Locational excellence 3. Operational excellence 4. Product excellence The lipstick effect - the theory that when facing an economic crisis consumers will be more willing to buy less costly luxury goods. Instead of buying expensive fur coats, for example, people will buy expensive lipstick. Segments of social networking users Creators – hip, cool, contributors, sit at the cutting edge and plan to stay there Bonders – social butterflies who use social media to enhance and expand their relationships, which they consider all-important in their lives Professionals – constantly on the go and busy, want to appear efficient, with everything together, so they use social media to demonstrate how smart they are Sharers – really want to help others, and the best way to do so is by being constantly well-informed so they can provide genuine insight to others Social network sites Thought sharing sites Media sharing sites Maslow’s hierarchy of needs Psychological factor of motivation that influences consumer decision process Physiological – safety – love – esteem – self-actualization Stakeholders Those affected by decision making Marketers affect many stakeholders. Customers represent one stakeholder group but others include all those in the supply chain, employees, and society at large. Supply chain partners include manufacturers, agents, wholesalers, retailers, and so on. Companies market to employees with employment marketing, also known as internal marketing, to recruit and retain the best employees. Strategic planning process 3 phases: planning – implementing – controlling Step 1: define the mission statement Step 2: conduct a situation analysis (SWOT) Step 3: Identifying and Evaluating Opportunities using STP Step 4: Implement Marketing Mix and Allocate Resources Step 5: Evaluate Performance and Make Adjustments B2C Marketing mix – Four P’s Behavioral economics B2B types of rebuys straight rebuy, modified rebuy, and new task. With a straight rebuy, the current vendor is contacted and a new order is placed. Alternatives are not considered. With a modified rebuy, a company is open to new vendors and will evaluate the current vendor as well as new possibilities. A new task is when a company is making a purchase with little or no experience. It does not occur very often so often the vendors help in the process. Research methods External secondary data – Secondary data are plentiful and free, whereas syndicated data generally are more detailed but can be very costly. installation of scanners created a huge new data source for marketers. response rates to marketing research surveys have declined, which has increased usage of research panels Internal secondary data- Data warehouses Data mining Surveys – structured and unstructured Web surveying Experimental research Qualitative research -observation (ethnographic research) -in-depth interviews -focus groups (influenced by other people) -social media Quantitative research -experiments -survey -scanner -panel Need recognition 1 step in decision making process Brand management Information sources Corporate partners • Firms are part of alliances • Align with competitors, suppliers, etc. • Just in Time Delivery Systems (JIT) • Firms must work together to create a seamless system that delivers goods and services to customers when and where they want them. Many attribute a key reason for Wal-Mart’s success is their close relationships with their suppliers. Locus of control Internal – more search activities External – fate, external factors, few search activities Ethics A strong ethical orientation must be an integral part of a firm’s marketing strategy and decision making. It is extremely important for marketers to adhere to ethical practices when conducting marketing research. Conversion rate - what percentage of visitors act as the marketer hopes Lovemarks Dishonesty the Movie All videos shown (Ikea, Nike, Etc.) All lectures LEARNSMART


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